In a new approach to commercial relations with Asia, the Clinton Administration has announced that its focus in the area will be on ‘Big Emerging Sectors’, in which American firms will be guided to compete. Among the sectors identified were the telecommunications and information technology. The US Undersecretary of Commerce for International Trade has said the US will work closely with US companies to compete in these markets in Asia, particularly in outside Japan, since there, the picture for future trade growth was described as fairly grim; East Asian demands outside Japan for new telecommunications systems, power and transport infrastructure could be worth $1,000,000m over the next decade, he said. The Undersecretary also said that US agencies dealing with external trade would close ranks and work with US firms to bid for business in what Washington sees as its niche areas – the ‘Big Emerging Markets’. Ten of these have been identified, the four top ones being China, Indonesia, India and South Korea. Others named were Mexico, Argentina and Brazil. The 10 countries would account for just over half the growth in global trade over the next two decades, says the US. Japan was not included among the Big Emerging Markets.
